USPS lost $721 million in August
TweetThe postal service has published unaudited financial results for the month of August showing a net loss of $721 million for the month, resulting in a fiscal year to date loss of $6.3 billion with one month left to report. Mail volume continued to decline, coming in at 13.2% below August a year ago. The steepest declines continued to be in standard mail, down 18.4%, periodicals, down 14.2%, and package services, down 18.1%. First class volumes were down by 7.8%.
Total revenue was down by just under a half billion dollars for the month, and down by $5.9 billion for the year to date. Expenses were reduced by 10.6% for the month, but are down by just 2.7% for the year to date, a reduction of less than $2 billion.
September 30th, 2009 12:54
Let people retire without a penality….
September 30th, 2009 17:52
Some of us have given the post office our bodies over the years. Let us retire on disability without penalty and without waiting 3 years.
September 30th, 2009 19:07
every plant is working mega overtime, people are doubleing they salary yet i keep reading mail is down. Who is running the shop? I think someone needs to investigate the p.o
September 30th, 2009 19:21
Get rid of 40,000 EAS employee’s who do nothing but stare into a computer screen, and fill out redundent forms all day! The USPS cannot function with 100,000 EAS employee’s, its UNSUSTAINABLE, and everyone with half a brain knows it!
September 30th, 2009 21:42
There is a grand total of 26281 managers and supervisors, so you can’t get rid of 40,000. There are 629,076 bargaining employees with about 300,000 that actually work. Who do you think needs to go if anyone goes?
September 30th, 2009 23:11
Postal workers are way over paid for the skills they posess. Management gets paid an out of sight salary for not managing the employees. What can you expect with the government running a company. With the exception of the military, what have they ever run right? And, they think they can run health care?
October 1st, 2009 09:40
Joan:
The US Postal Service will be investigated at the autopsy. You are hereby invited to observe from the gallery.
October 2nd, 2009 05:58
Honestly, I think the 1st step is to clean house of most supervisors or reassign them to the craft that they are managing. Most supervisors have never performed duties in the craft they are supervising. It’s like a chef being promoted to supervising an assembly line at toyota. But it’s the craft employees who are catching the flack for the mismanagemnt of personnel. The old school supervisors were craft employees and very good at managing. These new supervisors are horrible and I wouldn’t let them manage the supply closet. Seriously most of the post office waste is coming from managements inablility to manage.
October 5th, 2009 16:14
Postal workers are way over paid for the skills they posess. Management gets paid an out of sight salary for not managing the employees. What can you expect with the government running a company. With the exception of the military, what have they ever run right? And, they think they can run health care?
October 5th, 2009 16:15
I have been a packmule for the U.S.P.S for twenty six years. Sure theres waste in craft, but i work my butt off each and every day. Can management say that. I THNK NOT!!!!!
October 6th, 2009 17:23
There needs to be an investigation into the USPS. Something is very wrong and no one is really checking on the system.We are top heavy just like the state of NJ.So the USPS wants to get rid of craft just like Corizine did in NJ and the same thing will happen work will just back up and nothing will get done.
November 5th, 2009 15:44
Where did you find this wordpress look? It is great! Respond to me plz
BB from South Africa